The Right Budget for Your New Car

 

Here at Victory Chrysler Jeep® Dodge RAM Ottawa, we’re not just dedicated to putting you behind the wheel of a great vehicle from our lineup of new new Jeep models, RAM trucks, and more. We also want to help you find the perfect budget to fit your needs, so you can drive home in a car you love that also didn't break the bank.

That’s why our expert financing team is here to offer the best tips and tricks for budgeting for your new vehicle purchase. We’re here to help you make sense of common financing terms, and how they can impact your terms and provide options that make it easy to pick out the perfect new vehicle.

You’ll want to check your credit score before you begin the budgeting process. Your credit plays a key role in what interest rates you're eligible for, your loan term, and other factors. We have experience working with all financial backgrounds, and we'll do what we can to pair you with the best-suited plan.

When it comes to budgeting, you’ll want to put aside 10%-20% of your monthly income for your car payments. Remember that the larger the down payment and the larger the monthly payment, the more quickly you’ll own you car. That said, it’s important to be able to pay every month, so you don’t want to make your monthly loan too large. If you also have other debts, like school or credit card debt, you want to keep your total monthly debt payments at roughly around 36% of your income or lower.

When you’re ready to find out your Jeep, Dodge, RAM, and Chrysler financing options, our team is here to help. Visit Victory Chrysler Jeep Dodge RAM Ottawa at 327 West 23rd Street in Ottawa to get started today.

Categories: Finance
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